The ironic part in Bitcoin is that it's a completely artificial (albeit carefully planned) market that aims to create the ultimate free market, why haven't the devs put any effort into a bounty system to tap into bitcoins network hashing potential? Call it Bitcoin+ and let people put up bounties for unique addresses/darknet union URLs, cracking FBI/bank passwords etc.
One important reason for having the seemingly pointless proof of work problem that bitcoin uses (as opposed to a useful problem), is that its difficulty can be adjusted up and down to regulate the block discovery time. If you were solving a useful problem like cracking keys, how could the difficulty be adjusted?
You would be paid in BTC for your work, the Bitcoins would be premined the same way they currently are.
I do not claim that Bitcoin is worthless since it wastes processing power. Chopping down trees and printing the heads of dead presidents on them isn't any different.
The ironic part in Bitcoin is that it's a completely artificial (albeit carefully planned) market that aims to create the ultimate free market, why haven't the devs put any effort into a bounty system to tap into bitcoins network hashing potential? Call it Bitcoin+ and let people put up bounties for unique addresses/darknet union URLs, cracking FBI/bank passwords etc.
Cracking bank passwords? Perfect, transform Bitcoin from an instrument of freedom to and instrument of theft.
Is stealing from theives really a crime? There have been major crackdowns on Bitcoin by the central banks, why can't there be a crackdown on central banks by Bitcoin?
Read my replies.
I have read your replies and reached the conclusion that you are a fool that doesn't understand how Bitcoin works nor what irony is yet try to explain it to other people.
what the fuck is this
How is 'cracking FBI passwords' related to the 'ultimate free market'?
Why would someone pay for a unique 'union' address? ( i lol'd)
Again, how is any of it ironic?
Oh, I don't know, why would someone offering commercial services pay for a unique domain name? Instead of going to youtube.com you could go to TUCWUBRmshserzJwbNqZL4vL.com instead right?
Bitcoin is considered the ultimate tool of the free market, this is the reason it is popular in the cyberpunk, crypto-anarchistic and libertarian counterculture communities. Yet it is completely artificial and arbitrary with most of the values being modified by the selected few that own the bitcoin.org domain, the algorithm that controls the amount of Bitcoins created through time is also completely arbitrary.
Please name a market which is not artificial and we can go from there.
Well I think that most markets are artificial but not all, for example if I am a lawyer it is in my best interest to make the government add many new laws on a daily basis, thereby increasing my demand and thus increasing my pay, you could also say the same about universities, schools, many companies, and other competitive "intellectuals", the same isn't as true (or at least not to the same degree) for people in the creative mindset such as artists or people performing basic jobs that are likely to be demanded even in a state of total anarchy, resilient like cockroaches.
